Swanson Financial’s Blog
How to Incorporate Giving Back Into Your Budget
You should treat charitable giving like any other expense in your budget, making sure to allocate enough to give what you can while still taking care of your other financial obligations. By having a dedicated line for this expenditure, you can ensure that you are...
How to Start a Budget From Scratch
Creating a budget is a great place to start if you want a better grasp of your finances. Tracking your expenses each month can help you become more organized and make it easier to save for your goals. It all starts with finding a budgeting system that works for you....
Why Estate Planning is Essential
Most people spend a lot of time planning a trip, finding a car to buy, or planning a dinner out. However, they don't seem to think about estate planning when it comes to planning their future. Without it, you can't make an informed decision regarding your assets. Even...
Tax Deductions Every Small Business Owner Should Know
If you're a small business owner, you can take advantage of these tax deductions to lower your taxable income. Some of these include home office expenses, startup costs, and health insurance premiums. Home Office Expenses Due to the prevalence of home office expenses,...
A Refresher of Social Security
We all know that Social Security is something we pay into for our entire working lives. But what exactly is it, and what is its purpose? The Social Security Act was signed by President Franklin Roosevelt in 1935, which created the Social Security Administration....
How to Save for Retirement as a Freelancer
Due to the rise of the gig economy, many Americans are now working as independent contractors, which can pose significant challenges to their retirement savings. Tim Maurer, a financial advisor, explained that people who rely solely on freelance income might neglect...
How to Save for Retirement on a Budget
In the same way that you do in your working years, budgeting for retirement can help you manage your expenses. However, it's also important to keep in mind that you may be dealing with higher expenses, which can make it difficult to live on your savings. Building a...
Money Habits That Hurt Your Retirement Savings
Despite the general optimism about their retirement savings, most Americans still feel they have enough money to retire. However, even with automatic contributions, making ends meet in your golden years can be challenging. To ensure you have enough money to retire,...
Unexpected Expenses That May Arise in Retirement
Getting ready for retirement is a long-term process involving planning for the years you won’t be working. It’s also important for federal employees to be proactive in their financial future. A well-defined and realistic financial plan is essential to ensure you’ll...
Medical Insurance in Retirement
Getting the proper health insurance is one of the most essential factors you should consider when it comes to retirement. If you're over 65 and eligible for Medicare, you might consider purchasing supplemental insurance to help pay for out-of-pocket expenses. Before...